IPO Issue of Hotel Forest Inn Limited Closing Today; Oversubscribed 6.47 Times So Far
Summary
Hotel Forest Inn Limited's IPO issue of 3,320,000 shares closes today, oversubscribed 6.47 times, with the hotel expected to operate as a 5-star Holiday Inn in Kathmandu by October 2023.
Key Points
- Hotel Forest Inn Limited is closing its IPO issuance of 3,320,000 shares today, 26th Magh, 2082.
- The IPO has been oversubscribed 6.47 times with 18,94,657 applicants applying for 21,504,380 units.
- Hotel Forest Inn is constructing a 5-star hotel in Budhanilkantha, Kathmandu, with 102 rooms, expected to start operations in October 2023.
- The hotel will operate under the international brand 'Holiday Inn' through a License Agreement with InterContinental Hotels Group.
